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4 & 5 Vict. c. 40.
7 & 8 Vict. c. 1.
Power to Bank of England to advance additional Money not exceeding 900,000l.
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V. ‘And whereas by an Act passed in the Session of Parliament held in the Fourth and Fifth Years of the Reign of Her present Majesty, intituled An Act to empower the Commissioners of Her Majesty’s Woods to raise Money for certain Improvements in the Metropolis on the Security of the Land Revenues of the Crown within the County of Middlesex and City of London, it was enacted, that it should be lawful for the Commissioners of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings for the Time being, with the Consent of the Lord High Treasurer, or of the Commissioners for executing the Office of Lord High Treasurer, as therein mentioned, notwithstanding any Provisions, Restrictions, or Clauses contained in any Act or Acts of Parliament relating to Her Majesty’s Land Revenue, from Time to Time to borrow and take up, at any Rate of interest not exceeding Five Pounds per Centum per Annum, and on Such Terms and Conditions as they should think proper, such Sum or Sums of Money as the said Commissioners, with such Consent as aforesaid, should judge necessary, for the Purpose of carrying into effect and completing the several Improvements and new Streets authorized and directed to be made by them by the several Acts therein recited or referred to, on Mortgage of all or any Part or Parts of the Houses, Buildings, Lands, Tenements, and Hereditaments of or belonging to Her Majesty, Her Heirs and Successors, within the County of Middlesex and City of London, or either of them, (other than Royal Palaces and Parks,) and to secure the Repayment of the Sum or Sums so to be borrowed, or any Part or Parts thereof, with Interest for the same, with such Consent as aforesaid, by Grant, Demise, or Mortgage of all or any Part or Parts of the same Houses, Buildings, Lands, Tenements, and Hereditaments, as therein mentioned: And whereas by an Act passed in the Seventh Year of Her present Majesty, intituled An Act to enlarge the Powers of an Act of the Fourth and Fifth Years of Her present Majesty, empowering the Commissioners of Her Majesty’s Woods to raise Money for certain Improvements in the Metropolis, on the Security of the Land Revenues of the Crown within the County of Middlesex and City of London, after reciting to the Effect herein-before recited, and also reciting that Doubts had been entertained whether the said recited Act extended to empower the Governor and Company of the Bank of England, and certain other public Companies and Corporations, to advance and lend Monies to the said Commissioners on the Security of the said Land Revenues of the Crown, it was by the Act now in recital enacted, that it should be lawful for the Governor and Company of the Bank of England, for any Person whomsoever, and any Bodies Politic or Corporate, or Companies whatsoever, to advance and lend from Time to Time to the Commissioners for the Time being of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings any Sum or Sums of Money for the Purposes of the said several Acts in the said first herein-before recited Act recited or referred to, on Mortgage of any of the Hereditaments of Her Majesty, Her Heirs or Successors, (other than Royal Palaces and Parks,) within the County of Middlesex and City of London, or either of them, in manner therein mentioned; but it was by the Act now in recital provided, that the Sum to be advanced by the Governor and Company of the Bank of England under the Provisions thereof should not exceed in the whole the Sum of Two hundred and fifty thousand Pounds: And whereas it is expedient that the last-mentioned Restriction should be removed, to the Extent of allowing the Governor and Company of the Bank of England to advance any Sum or Sums of Money which the said Commissioners are authorized to borrow, in addition to the said Sum of Two hundred and fifty thousand Pounds, by the said last-recited Act authorized to be advanced, not exceeding the further Sum of Three hundred thousand Pounds:’ Be it therefore enacted, That, notwithstanding the aforesaid Proviso and Restriction, in the said recited Act of the Seventh Year, of Her present Majesty contained, it shall be lawful for the Governor, and Company of the Bank of England, if they shall think fit, from Time to Time to advance and lend to the Commissioners for the Time being of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings, under the Provisions of the said last-mentioned Act and this Act, any Sum or Sums of Money which the said Commissioners are authorized to borrow, over and above and in addition to the Sum of Two hundred and fifty thousand Pounds by the said last-recited Act limited as the Sum to be advanced by the said Governor and Company of the Bank of England, not exceeding the further Sum of Three hundred thousand Pounds; and that all and every the Provisions of the said last-recited Act shall be and continue in force and apply as if the Restriction as to the total Amount of Monies to be advanced by the said Governor and Company of the Bank of England had not been therein contained.
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